UK’s LNG Imports Jump To Highest Since 2015

19/03/2019 09:14 LNG

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The UK is on track to import this month its highest volume of liquefied natural gas (LNG) since October 2015, as a wave of new global LNG supply and muted winter demand and low spot prices in Asia are boosting flows of the fuel to Europe.

As many as 14 cargoes of LNG are set to arrive in the UK in March, Reuters reports, citing shipping data from Refinitiv Eikon. The surge in LNG imports has pushed down wholesale gas prices in Britain to their lowest in 18 months, according to Reuters data.

 

In addition, UK wholesale gas prices have halved since September last year—a highly unusual occurrence because winter is a peak natural gas demand season in Britain with gas used for heating. 

 

But the increased flow of LNG has been pushing prices lower.

Source: oilprice.com

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